Question: Journalize the following long term available for sale security transactions of Rogers Brothers

Journalize the following long-term available-for-sale security transactions of Rogers Brothers Department Stores:
a. Purchased 520 shares of Florida Fine Foods common stock at $35 per share, with the intent of holding the stock for the indefinite future.
b. Received a cash dividend of $1.80 per share on the Florida Fine Foods investment.
c. At year-end, adjusted the investment account to fair value of $42 per share.
d. Sold the Florida Fine Foods stock for the price of $27 per share.

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  • CreatedJuly 25, 2014
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